WHIDBEY NEWS-TIMES: Hospital turned down again for loan, but hope remains

Jessie Stensland reports:

WhidbeyHealth was unable to obtain an $8-$10 million loan that officials were expecting to receive from a health care lending firm in order to bridge a funding gap.

“We are continuing to explore other funding options, including loans, grants and other innovative solutions,” a hospital memo obtained by the Whidbey News-Times states. “HealthTechS3 is engaged to assist.”

Officials at WhidbeyHealth have been seeking a short-term loan in order to make payroll and cover other costs until revenues from the property tax levy come in. Officials said they should receive half of the tax funds, about $8 million, by the end of April.